American Tower Corporation Announces Launch of Operations in Colombia

Published on Tuesday, 07 September 2010 09:23 Written by TradersHuddle Staff

BOSTON-( Business Wire )-

American Tower Corporation’s (NYSE: AMT) Colombian subsidiary, ATC Sitios de Colombia S.A.S., today announced that it has launched operations in Colombia, where it recently entered into an agreement to purchase the exclusive use rights for up to 458 wireless communication tower sites from Telefonica S.A.’s Colombian subsidiary, Colombia Telecomunicaciones S.A. E.S.P. (“Coltel”). The Company has completed the purchase of use rights for 225 of these tower sites, on which Coltel is the anchor tenant, and expects to close on the remaining sites by the end of 2010, subject to customary closing conditions. In addition, the parties contemplate a follow-on purchase of use rights for up to an additional 514 wireless communication tower sites by the end of 2011, subject to the satisfaction of certain mutually agreed conditions.

“This transaction extends our presence into yet another growing Latin American wireless market where our existing customers currently operate,” said Jim Taiclet, Chairman, President and Chief Executive Officer. “Our platform for growth in Latin America is strong, with now five served markets where wireless carriers are focused on investing to deploy additional spectrum and launch new data services.”

About American Tower

American Tower is a leading independent owner, operator and developer of broadcast and wireless communications sites. American Tower currently owns and operates approximately 33,000 communications sites in the United States, Brazil, Chile, Colombia, India, Mexico and Peru. For more information about American Tower, please visit www.americantower.com.

American Tower CorporationLeah Stearns, 617-375-7500Director, Investor Relations